Reserve Bank of India has notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in Kaveri Seed Company has reached the trigger limit. Accordingly, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India.
Kaveri Seed Company has registered 2.85% fall in its net profit after tax at Rs 35.74 crore for third quarter ended December 31, 2014 as compared to Rs 36.79 crore for the same quarter in the previous year. Total income of the company has decreased 36.54% at Rs 85.41 crore for Q3FY15 as compared Rs 134.59 crore for the corresponding quarter previous year.
